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A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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EGL Court Fight Ends in a Draw
New York: The decade-long court fight between EGL USA and the global European Gemological Laboratory network has ended with both sides losing, reports jckonline. In September, more than two years after the bench trial ended, New York federal Judge Paul A. Crotty issued a ruling that denied motions from both parties. The court case began in 2004 and has seen
Innovation, skill Dev. Key for Jewellery Sector
Ahmedabad: The Gems and Jewellery sector in India needs attention of both government and industry members to drive innovations in terms of new designs, processes and skill development of work force to sustain in global markets, says a survey. Consumer preferences have rapidly changed with the advent of globalization and demand for new and innovative designs has increased rapidly. In
Collectors & Connoisseurs Shine at Argyle Tender
Perth: Rio Tinto’s spectacular 2015 Pink Diamonds Tender collection of 65 rare pink and red diamonds from its Argyle diamond mine has delivered an exceptional result, reflecting global demand and sustained price growth. The Argyle Pink Diamonds Tender, known as the ‘Connoisseurs Collection” weighing a total of 44.14 carats and including four Fancy Red diamonds, was internationally popular with winners
Sarine Opening Allegro Service Center in Jaipur
Jaipur: Sarine Technologies Ltd has announced the opening of its first Allegro™ service center in Jaipur, India. The system provides automated gemstone planning and shaping services. The Allegro™ was developed by Galatea Ltd, Sarine’s wholly-owned subsidiary. The system provides automated, highly accurate evaluation, planning and precise shaping of rough gemstones. Using 3D laser mapping technology, it measures the rough gem
Russia-China Plan to Establish a Joint Bourse
Moscow: Russia and China plan to establish a joint bourse for trading in precious and semi-precious stones, the group of companies Karat’s CEO Konstantin Bunin said, according to ITAR-TASS. The company has received a proposal from the Beijing Gold Exchange (CBGE) and the Beijing Financial Asset Exchange (CFAE) to create a trading floor for precious stones following the example of
Rockwell Ups Q2 Diamond Output
Vancouver: Rockwell Diamonds increased the volumes of gravel processed from its operations in South Africa by 57 percent to 1.4-million cubic metres during the quarter ended August 31, resulting in a 37 percent increase in output to 9,581 ct. The company’s chief executive James Campbell said the second-quarter production results revealed continued benefits flowing from the group’s focus on its
De Beers first to Operationalize SQUID System
Gaborone: De Beers, owned by Anglo American is first in the world to operationalize airborne magnetic SQUID system-the Super Conducting Quantum Interference Device-for the faster execution of work programmes and significantly reducing the mining exploration costs. This Full Tensor Airborne Magnetic SQUID system could locate kimberlite deposits through looking at changes to magnetic fields. This hi-tech system has a very
GJEPC’s Annual Awards on 10th October
Mumbai: The jury of the upcoming 41st Indian Gem & Jewellery Awards, met yesterday in Mumbai to finalize the names of the winners in all the categories. The awards ceremony will be held in Mumbai at Jamshedji Bhabha Theatre, NCPA on 10th October 2014. The jury members, who selected the winners include: Smt. Nirupa Bhatt, Managing Director (India & ME),
